top of page

The Ultimate Guide to the B2B Gift Card Market in Colombia

Discover the latest trends, top brands, and insights into the B2B gift card industry in Colombia

General Facts On

Colombia

52 million

Population

Bogotá

Capital

Spanish, and 65 languages are recognized regionally

Official language

Colombian peso

Currency

National holidays

National holidays: 19th March (Saint Joseph), 10th June* (Sacred Heart), 29th June (St. Peter & Paul), 20th July (Independence Day), 7th August (Battle of Boyacá), 12th October (Columbus Day), 11th November (Independence of Cartagena) and Catholic Holidays

Colombia Gift Card Market Size

Current size of the B2B gift card market: In value terms, the gift card market in Colombia has recorded a CAGR of 9.1% during 2018-2022. The gift card industry in Colombia will continue to grow over the forecast period and is expected to record a CAGR of 8.4% during 2023-2027. The gift card market in the country will increase from US$ 0.9 billion in 2022 to reach US$ 1.3 billion by 2027.1 

Growth trends over the past few years: With an increasing number of Colombians moving upwards into the middle class and having higher disposable incomes, the retail sector has experienced a sharp and intense growth, accelerated by the gradual turn towards e-commerce. With digital gift cards being convenient and versatile, both their acceptance and demand has risen.  

Predictions for the future: With the Colombian economy becoming more stable and expanding steadily, an increasing number of multinational corporations are entering the country and adopting gift cards as part of employee incentive programs.  

Furthermore, as mobile coverage starts being extended into remote rural areas, sending digital gift cards can be an easy and convenient way of staying in contact with relatives and friends for those Colombians moving to cities or abroad. Thus, gifting programs aimed at this demographic are likely to grow.  

Country gift card market size

Colombia Gifting Traditions

Colombia is not just the second most biodiverse country in the world, but also one of the most culturally diverse ones. More than a hundred indigenous groups are still present, and over 60 languages are recognized regionally. Contemporary Colombian culture is a colourful fusion of Spanish, African and indigenous influences which have melded together over the centuries since European colonisation. 

 

The strong influence of Catholicism has shaped a conservative society, where manners, formality and dignified behaviour are highly valued. Social hierarchies based on class are prevalent, and in many instances, social networks wield more influence in securing a job than educational achievements.  


While the majority of Colombians reside in cosmopolitan urban areas, where the influence of European design is unmistakeable, many of them are still deeply connected to their rural homelands, where a quarter of the population embraces a slower and more agricultural lifestyle. Colombians take immense pride in their country and expect foreigners to respect local customs and tradition.  


With Colombians being known for their positivity, animated personalities, and an innate ability to turn any situation into a celebration, it should come as no surprise that the tradition of gift-giving is deeply ingrained in various aspects of life.  


Gifts are exchanged on occasions like Christmas, epiphany, christenings, weddings, and birthdays. Particularly significant is the 15th birthday of a girl, her quinceañera, which marks her transition to womanhood and is celebrated with great fervour. In some instances, such as at weddings, people may ask for “Lluvia de sobres”, which is essentially money in an envelope instead of presents.  


When it comes to business, initial meetings are generally not accompanied by gifts, but a modest and thoughtful gift can be appreciated. With Colombian society valuing relationships and networking greatly, substantial amounts of time should be devoted to building personal connections in the workplace.  


As Colombia continues to evolve economically, politically, and culturally, so will its gift-giving customs – reflecting the mega-diverse nature of the South American nation.  

Gift Card Regulations in Colombia

Popular gift cards in Colombia

Popular gift card brands
  • Rapsodia: A bohemian fashion haven, Rapsodia weaves enchanting styles that resonate with the free spirits of Colombia, forming a symphony of colours and patterns 

  • Tramontina: Transforming kitchens into culinary playgrounds, Tramontina’s high-quality cookware and utensils captivate home chefs with their durability and stylish designs  

  • Xbox: Unleashing the power of play, Xbox is the ultimate adventure companion, offering a portal to immersive gaming worlds and limitless entertainment 

  • Prüne: Embodying timeless elegance, Prüne crafts leather goods that enchant the Colombian fashion scene, merging classic sophistication with contemporary flair 

  • Tripgift: Elevating wanderlust dreams, tripgift makes the heart of every Colombian explorer flutter by offering unique travel experiences and unforgettable getaways, whether to the Amazon rainforest, the sweeping dunes of the Sahara, or the bustling streets of Tokio  

Benefits of B2B gifting in Colombia

  1. Diverse and Dynamic Market: Colombia isn’t a one-size-fits-all market. Its diverse landscape, from bustling centres to slower paced rural regions, demands a nuanced approach. B2B gifting allows companies to navigate this terrain, tailoring their gestures to resonate with the varied tastes and preferences of the Colombian audience. 

  2. Celebration as a Way of Life: Colombians don’t need much reason to celebrate – birthdays, weddings, or just making it through Monday. By incorporating corporate gifting into a business strategy, this celebration mindset can be tapped into. Whether it’s recognizing employee milestones or acknowledging a successful collaboration, a well-timed gift can turn an ordinary moment into a small party. 

  1. Relationships trump Transactions: Colombia thrives on relationships, and that’s not just a metaphor. In a society where networks open doors, corporate gifting forms a tangible expression of appreciation. Strengthening these personal connections can turn clients into partners and employees into brand advocates.  

  1. Cultural Connection: By embracing the tradition of gift-giving, companies can create a bridge between business and culture, and showcase their respect for a vital component that makes up the unique cultural framework of Colombia – and when respect is given, Colombians are sure to return it. 

The Global Gift Card 

Physical and digital versions of The Global Gift Card
bottom of page